The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of Achaogen, Inc. on May 1, 2019. The debtor’s assets include substantially all assets assumption and assignment, assignment or rejection of designated executory contracts and unexpired leases. To qualify as a qualified bidder, interested parties should submit their bids by May 29, 2019 with a good faith deposit of 10% of the total bid price. The deadline to designate a stalking horse bidder is May 22, 2019. The initial minimum overbid should be in the amount of $0.5 million more than the initial purchase price. If the debtor receives any qualified bids then it would hold an auction for its assets on June 3, 2019. At the auction, the subsequent bids would be in increments of $0.25 million. The stalking horse bidder would be entitled to a break-up fee and expense reimbursement in case of termination of the asset purchase agreement. The sale hearing is scheduled for June 6, 2019.